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Analysts continue to trim South American soybean production estimates for 2018-19 due to dry weather. Some Parana farms report no losses, but other areas see yields as low as 18 bushels per acre.
Paraguay estimates 15% national yield losses, while flooding hit Argentina and Uruguay.
Repeated downgrades to South American soybean output tighten global supply and support soybean meal and soybean prices for feed users.
farmprogress.comJames ThompsonJan 31, 2019After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
